1.

Compulsory Licensing of Inventions which are duly patented may be

dispensed with or will be allowed exploitation even without
agreement of the patent owner under certain circumstances, like
national emergency, for reason of public interest, like national
security, etc. The person who can grant such authority is -
a. the Director General of the Intellectual Property Office;
b. the Director of Legal Affairs of the Intellectual Property
Office;
c. the owner of the Patent right;
d. Any agent of the owner of the Patent right.

2. The Fair Use Doctrine allows others to utilize copyrighted works

under certain conditions. The factors to consider whether use is
fair or not would be the purpose and character of the use, nature
of the copyrighted work, amount and substantiality of the
portions used, and what else?
a. Effect of the use upon the creator of the work.
b. Effect of the use upon the potential market of the work.
c. Effect of the use upon the public in general.
d. Effect of the use upon the class in which the creator
belongs.

3. XYZ Corporation bought ten (1 0) units of Honda Civic from CCC

Corporation. ABC Bank granted a loan to XYC Corporation which
executed a financing agreement which provided for the principal
amount, the installment payments, the interest rates and the due
dates. On due dates of the installment payments, XYZ Corporation
was asked to pay for some handling charges and other fees which
were not mentioned in the Financing Agreement. Can XYC
Corporation refuse to pay the same?
a. No, because handling charges and other fees are usual in
certain banking transactions.
b. Yes, because ABC Bank is required to provide XYZ Corporation
not only the amount of the monthly installments but also the
details of the finance charges as required by the Truth in
Lending Act.
c. No, because the Finance Agreement is a valid document to
establish the existence of the obligation.
d. Yes, because legally, finance charges are never allowed in
any banking transaction.

4. Which of the following is an exception to the secrecy of bank

deposits which are in Philippine Pesos, but NOT an exception to
the secrecy of foreign currency deposits?
a. Upon Bangko Sentral ng Pilipinas (SSP) inquiry into or
examination of deposits or investments with any bank, when
the inquiry or examination is made in the course of the
SSP's periodic special examination of said bank to ensure
compliance with the Anti-Money Laundering Act (AMLA);
 b. Upon Philippine Deposit Insurance Corporation (PDIC) and SSP
inquiry into and examination of deposit accounts in case
there is a finding of unsafe or unsound banking practice;
c. Upon inquiry in cases of impeachment;
d. Upon inquiry by the Commissioner of Internal Revenue in the
event a taxpayer files an application to compromise his tax
liabilities on the ground of financial incapacity.

5. The Anti-Money Laundering Law is a law that seeks to prevent

money laundering activities by providing for more transparency in
the Philippine Financial System, hence the following institutions
are covered by the law, except:
a. Bank and any financial institutions;
b. Pawnshops;
c. Casino operators;
d. All of the above.